This bond is required for anyone who wants to operate a second-hand goods store in New York City. It's a $1,000 financial guarantee you must purchase from a bonding company and file with the New York City Department of Consumer Affairs before you can legally buy and sell used items. The bond protects customers and the…
Overview
What it is.
This bond is required for anyone who wants to operate a second-hand goods store in New York City. It's a $1,000 financial guarantee you must purchase from a bonding company and file with the New York City Department of Consumer Affairs before you can legally buy and sell used items. The bond protects customers and the…
Who usually needs it
Individuals and businesses who buy or sell secondhand goods (excluding automobiles) in New York City, including those dealing in precious metals, pawnbroker tickets, used electronics, or receiving secondhand items in exchange for credit, must obtain this $1,000 bond as a requirement for obtaining a Secondhand Dealer General License.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateNYBond amount$1,000ObligeeNew York City Department of Consumer AffairsBond classLicense BondCategoryRetail & SalesBondNew York City Second Hand Dealer BondJurisdictionStatePlain descriptionThis bond is required for anyone who wants to operate a second-hand goods store in New York City. It's a $1,000 financial guarantee you must purchase from a bonding company and file with the New York City Department of …Who needs this bondIndividuals and businesses who buy or sell secondhand goods (excluding automobiles) in New York City, including those dealing in precious metals, pawnbroker tickets, used electronics, or receiving secondhand items in ex…
